Latest Bitcoin Cash price and analysis (BCH to USD)

Bitcoin Cash has struggled to establish any kind of momentum or direction in the past week with it stubbornly holding on to the $238 level

Bitcoin Cash, like much of the cryptocurrency market, has stagnated in terms of price action over the past six weeks as it clings on to the tight range between $230 and $240.

The period of relative calm comes after a turbulent couple of months spurred by the Coronavirus pandemic and subsequent economic fallout.

Bitcoin Cash plunged to as low as $145 at the height of the crisis in March before recovering by nearly 100% in the following month.

However, since surging to $285 Bitcoin Cash has been consolidating at around $240 with an apparent lack of interest on both the sell side and the buy side.

From a short term perspective there has been slight dips to $221 and spikes to $266, but the daily 200 moving average remains a key point of resistance to the upside.

Bitcoin Cash seems to be following the cryptocurrency market in general, with a number of altcoins like XRP and Litecoin both struggling beneath the daily 200MA.

A daily or weekly candle close above this level would confirm a bullish breakout and would pave the way for a test $282, with an upside price target also emerging at $327.

Much of the upcoming price action will also depend on Bitcoin, which seems to be correlated with the US stock market.

Economic stimulus from global economies has the potential the drive stock market indexes to new all-time highs, and if this happens Bitcoin will likely follow bringing altcoins in its wake.

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US Dollar – BCHtoUSD

British Pound Sterling – BCHtoGBP

Japanese Yen – BCHtoJPY

Euro – BCHtoEUR

Australian Dollar – BCHtoAUD

Russian Rouble – BCHtoRUB

Bitcoin – BCHtoBTC

About Bitcoin Cash

Bitcoin Cash was born out of the idea of making Bitcoin more practical for small, day-to-day payments. In May 2017, Bitcoin payments took about four days unless a fee was paid, which was proportionately too large for small transactions. A change to the code was implemented and Bitcoin Cash was born on 1st August 2017.

More Bitcoin Cash news and information

If you want to find out more information about Bitcoin Cash or cryptocurrencies in general, then use the search box at the top of this page. Here’s an article to get you started:

As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

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